First Hawaiian Bank Has $1.80 Million Stake in Sun Communities, Inc. (NYSE:SUI)

First Hawaiian Bank grew its holdings in Sun Communities, Inc. (NYSE:SUI) by 2.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,914 shares of the real estate investment trust’s stock after purchasing an additional 365 shares during the quarter. First Hawaiian Bank’s holdings in Sun Communities were worth $1,795,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Evoke Wealth LLC bought a new stake in Sun Communities during the 4th quarter worth about $5,594,000. Clearbridge Investments LLC raised its position in Sun Communities by 12.3% in the 4th quarter. Clearbridge Investments LLC now owns 304,180 shares of the real estate investment trust’s stock worth $40,654,000 after purchasing an additional 33,382 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Sun Communities by 5.3% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 673,215 shares of the real estate investment trust’s stock worth $89,975,000 after buying an additional 33,795 shares in the last quarter. Strs Ohio boosted its position in Sun Communities by 8.6% in the 4th quarter. Strs Ohio now owns 301,096 shares of the real estate investment trust’s stock valued at $40,241,000 after buying an additional 23,792 shares during the last quarter. Finally, Centersquare Investment Management LLC increased its stake in shares of Sun Communities by 4.7% in the 1st quarter. Centersquare Investment Management LLC now owns 2,171,868 shares of the real estate investment trust’s stock valued at $279,259,000 after buying an additional 96,529 shares during the period. Institutional investors own 99.59% of the company’s stock.

Sun Communities Price Performance

SUI stock traded down $5.42 during mid-day trading on Monday, hitting $130.19. The stock had a trading volume of 859,353 shares, compared to its average volume of 746,389. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 1.08. Sun Communities, Inc. has a 52 week low of $102.74 and a 52 week high of $137.45. The firm has a market capitalization of $16.23 billion, a P/E ratio of 113.35, a P/E/G ratio of 1.00 and a beta of 0.88. The firm has a fifty day simple moving average of $120.41 and a 200 day simple moving average of $123.37.

Sun Communities Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 2.89%. The ex-dividend date was Friday, June 28th. Sun Communities’s dividend payout ratio is currently 324.14%.

Analyst Ratings Changes

Several research firms recently issued reports on SUI. JMP Securities reiterated a “market outperform” rating and issued a $150.00 price target on shares of Sun Communities in a report on Thursday, May 2nd. StockNews.com upgraded shares of Sun Communities from a “sell” rating to a “hold” rating in a research report on Thursday. Evercore ISI dropped their price target on shares of Sun Communities from $145.00 to $128.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. Finally, Royal Bank of Canada boosted their price target on shares of Sun Communities from $131.00 to $137.00 and gave the stock an “outperform” rating in a research note on Friday. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $135.10.

Sun Communities Company Profile

Established in 1975, Sun Communities, Inc became a publicly owned corporation in December 1993. The Company is a fully integrated REIT listed on the New York Stock Exchange under the symbol: SUI. As of December 31, 2023, the Company owned, operated, or had an interest in a portfolio of 667 developed MH, RV and Marina properties comprising 179,310 developed sites and approximately 48,030 wet slips and dry storage spaces in the U.S., the UK and Canada.